Benefits of Hiring Virtual Assistant for Your Accounting and Bookkeeping Needs

Whether you are a startup or an established business, wrong bookkeeping practices will drain out your money and time.

You can now eliminate the bookkeeping troubles by relying on a virtual assistant.

In adapting a paper-free bookkeeping to even gaining total control over the overall process; these super assistants can prove to be true assets.

CHALLENGES IN THE BOOKKEEPING PROCESS

According to a report published by Capital Counselor, 66% of businesses would rely on Artificial Intelligence (AI) in the near future to automate tasks and save on expenditure.

However, along with relying on technology, the challenges in the accounting sector are increasing.

On any given day, businesses will get into the following bookkeeping issues, if not careful enough.

• Invoices are not generated on time
• No record of transactions –big or small
• Sent invoice track records not maintained
• Financial report glitches
• Bad payroll management
• Fraud is not detected on time
• Cash management discrepancies
• Failure in hiring a talented workforce and bookkeepers

Organizations on depending, Virtual Bookkeepers, Accountants and Tax professionals, can go total carefree on accounting and bookkeeping processes or can reduce the burden of the in-house bookkeeping professionals.

WHO ARE VIRTUAL BOOKKEEPING ASSISTANTS?

Virtual Bookkeeping Assistants are professionals who undertake accounting and financial tasks of various businesses and complete it remotely.

The cultural shift of the market, a need to keep up the pace and win over competitions has resulted in virtual assistant dependency to complete the accounting and bookkeeping tasks faster and with correctness.

THE TASKS THAT CAN BE OUTSOURCED TO A BOOKKEEPER

A Virtual Bookkeeping Assistant can handle all the tasks that are given to an in-house Bookkeeping professional.

Here is a condensed list of Bookkeeping tasks that your business can easily outsource.

• Inventory Management
• Payroll Processing
• Bookkeeping consulting and supervision
• Billing and payment tracking
• Payroll file keeping and management
• Keeping records of purchase invoices, payment cheque, cash receipts, bank receipts, credit card journals, depreciation journals, etc.
• Checking all the records for accuracy